(1) An international development bank may borrow money and issue evidences of indebtedness in connection therewith.
(2) An international development bank shall have capital accounts in an amount equal to not less than 8 percent of its aggregate deposits. However, the commission by rule may increase the required amount of capital accounts to not more than 10 percent of such aggregate deposits. When adopting any such rule, the commission shall take into account the objective of protecting the interests of depositors and of maintaining a sound banking system in this state.
History.—ss. 1, 5, ch. 86-82; s. 7, ch. 89-110; s. 1, ch. 91-307; s. 1, ch. 92-303; s. 1854, ch. 2003-261.
Structure Florida Statutes
Title XXXVIII - Banks and Banking
Chapter 663 - International Banking
Part II - International Development Banks (Ss. 663.301-663.318)
663.302 - Applicability of state banking laws.
663.303 - Creation of an international development bank.
663.304 - Application for authority to organize an international development bank.
663.305 - Investigation by the office.
663.308 - Place of transacting business; branches.
663.309 - Permissible activities; prohibited activities.
663.316 - Borrowing; capital accounts.
663.317 - Foreign currency lending, borrowing, and deposits.